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July 2020
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Missing Mayor found dead in north Seoul        Heavy rain hits scenic central Japan, more damage in south        Bikru bloodbath mastermind Vikas Dubey nabbed in MP town        NIA to probe gold smuggling case, ex-Consulate woman employee moves HC for anticipatory bail        Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark        Holder wins early battle with Stokes as Windies take control        Ganguly announces cancellation of Asia Cup in September        We have asked every state to adopt one sport: Rijiju        Rupee slips 9 paise to 75.02 against USD        ICICI Bank to raise up to Rs 15,000 crore to bolster capital base        Trump threatens to cut federal aid if schools don't reopen        Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225        Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez        Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action        CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia        301 test positive in Kerala,COVID-19 tally crosses 6,000 mark        Dhoni turns 39, wishes pour in from all corners        New era for cricket as England-West Indies series begins        India''s COVID-19 tally, fatality rate per million population lowest in world: Govt        Rahul asks why no mention of Galwan Valley in MEA statement on talks        
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Main News
Abhijit Banerjee, Esther Duflo and Michael Kremer win 2019 Nobel Economics Prize
 
Stockholm: Indian-American Abhijit Banerjee, his wife Esther Duflo and another economist Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday "for their experimental approach to alleviating global poverty." Banerjee and French-American Duflo both work at the prestigious Massachusetts Institute of Technology while Kremer is at Harvard University. Duflo, the 46-year-old former advisor to ex-US president Barack Obama, is the second woman and the youngest ever to win the economics prize. The prize includes 9 million-kronor (USD 918,000) cash, a gold medal and a diploma. The winners will equally share the prize money.

"The research conducted by this year''s Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research," the Royal Swedish Academy of Sciences said. They have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty, it added. Their "research findings - and those of the researchers following in their footsteps - have dramatically improved our ability to fight poverty in practice," it said.

As a direct result of one of their studies, more than five million Indian children have benefitted from effective programmes of remedial tutoring in schools. Another example is the heavy subsidies for preventive healthcare that have been introduced in many countries, it added. Duflo said that receiving the prize was "incredibly humbling". "Showing that it is possible for a woman to succeed and be recognised for success I hope is going to inspire many, many other women to continue working and many other men to give them the respect they deserve," Duflo told a press conference over phone soon after the announcement.

Banerjee, 58, was educated at the University of Calcutta, Jawaharlal Nehru University and Harvard University, where he received his Ph.D in 1988. He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, according to his profile on the MIT website. In Kolkata, his mother Nirmala Banerjee said it was a proud moment for her and she is very happy for his achievements. She said she is also happy as one of the joint winners of the prestigious award is her daughter-in-law Esther Duflo. "I am very happy and proud of his achievements," said Nirmala, a former professor of economics at the Centre for Studies in Social Sciences.

Her husband Dipak Banerjee is also a professor and the head of the department of Economics at then Presidency College (now University). "He did great work in understanding poverty and how the poor survived. At times we used to discuss various topics and issues on economics. He has also spoken on economic issues our country is facing presently," Nirmala said. In 2003, Banerjee founded the Abdul Latif Jameel Poverty Action Lab (J-PAL), along with Duflo and Sendhil Mullainathan, and he remains one of the lab''s directors. He also served on the UN Secretary-General''s High-level Panel of Eminent Persons on the Post-2015 Development Agenda.

Duflo, born in 1972, is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics in the Department of Economics at the Massachusetts Institute of Technology and a co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL). Banerjee supervised Duflo''s PhD with Joshua Angrist in 1990. The duo got married in 2015 and their co-authored book ''Good Economics in Hard Times'' will hits the stands this week. With Banerjee, Duflo wrote Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, which won the Financial Times and Goldman Sachs Business Book of the Year Award in 2011 and has been translated into more than 17 languages.

She has worked on health, education, financial inclusion, environment and governance. Her first degrees were in history and economics from Ecole Normale Superieure, Paris. She subsequently received a Ph.D. in Economics from MIT in 1999. Duflo has received numerous academic honours and prizes including the Princess of Asturias Award for Social Sciences (2015), the A.SK Social Science Award (2015), Infosys Prize (2014), the David N. Kershaw Award (2011), a John Bates Clark Medal (2010), and a MacArthur “Genius Grant” Fellowship (2009). She is the Editor of the American Economic Review, a member of the National Academy of Sciences and a Corresponding Fellow of the British Academy.

Kremer, 54, is a development economist, who is currently the Gates Professor of Developing Societies at Harvard University. Congratulating Banerjee and his wife Duflo, the MIT said that their work has dramatically improved global ability to fight poverty in practice, including in India. JNU vice-chancellor M Jagadesh Kumar also expressed pride at Banerjee''s achievement. "Prof. Abhijit Vinayak Banerjee, a JNU alumnus (MA in Economics, 1983) wins Nobel Prize (together with two fellow economists) for contributing towards alleviating global poverty. JNU is proud of his achievement. Our alumni are torch bearers of JNU. We are proud of them," he tweeted.


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KERALA NEWS
Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark
 Thiruvananthapuram: With COVID19 cases continuing to spiral, Kerala on Thursday recorded the biggest  
Kerala reports 272 fresh cases; 68 infected through contact
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INTERNATIONAL NEWS
Missing Mayor found dead in north Seoul
 Seoul: The Mayor of this South Korean capital was found dead at Bugaksan mountain here on Thursday,
Heavy rain hits scenic central Japan, more damage in south
Trump threatens to cut federal aid if schools don't reopen
Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225
NATIONAL NEWS
Bikru bloodbath mastermind Vikas Dubey nabbed in MP town
 Ujjain: History-sheeter Vikas Dubey ? the prime accused for whom Uttar Pradesh Police had launched a
Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez
Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action
CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia
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